Bellway upbeat as sales rise ahead of spring season

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Housebuilder Bellway said a “resilient” market meant it grew sales in the past six months and was enjoying higher levels of interest ahead of the spring selling season.

The firm sold 2,455 homes in the half-year to the end of January, up 5 per cent on a year before, figures yesterday revealed.

More sales to individuals as opposed to housing associations pushed its average selling price up by 8.7 per cent to £183,000. The firm said: “The spring selling season is about to commence and last year provides a challenging comparison in terms of reservations.

“Nevertheless, with visitor levels up by around 20 per cent since the beginning of January, early indications are that the housing market remains resilient.”

Broker Numis said it now looked likely that Bellway’s results would beat hopes, and it believed the company could make £100 million in pre-tax profits this year.